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Bitcoin, XRP Open Interest Nears Record High as Bull Market Pullback Unfolds

BTC is down, but not out as SOL finds new resistance at $168.

It's common for markets to revisit breakout points, in this case, the May 22 high of around $111,960, and test the underlying buying interest before chalking out bigger rallies. A similar dynamic played out earlier this year as prices dropped from over $100,000 of $75,000, revisiting the breakout point from late 2024.

From a technical analysis perspective, the broader bullish bias will prevail while prices remain locked in the ascending channel on the daily chart. Over the next 24 hours, the focus will be on the hourly chart, which shows a steep corrective trend lower, with prices trading below the Ichimoku cloud to suggest bearish momentum.

Bitcoin, XRP Open Interest Nears Record High as Bull Market Pullback Unfolds

BTC is down, but not out as SOL finds new resistance at $168.

It's common for markets to revisit breakout points, in this case, the May 22 high of around $111,960, and test the underlying buying interest before chalking out bigger rallies. A similar dynamic played out earlier this year as prices dropped from over $100,000 of $75,000, revisiting the breakout point from late 2024.

From a technical analysis perspective, the broader bullish bias will prevail while prices remain locked in the ascending channel on the daily chart. Over the next 24 hours, the focus will be on the hourly chart, which shows a steep corrective trend lower, with prices trading below the Ichimoku cloud to suggest bearish momentum.

https://www.coindesk.com/markets/2025/07/15/bitcoin-xrp-open-interest-nears-record-high-as-bull-market-pullback-unfolds